Budapest Honvéd Football Club was founded in August 1909. Originally known as Kispest AC, the team began to operate under a variation of its current name during the 1950s. During this time, they also became the team of the Hungarian Army. Over the years, Honvéd have been amongst the country's most successful clubs, winning a number of domestic trophies.

The team enjoyed its first era of prolonged success during the 1950s. Several of the Honvéd players from this time formed part of the legendary 1950s Hungarian national side, known as the 'Mighty Magyars'. The club earned league titles in the 1949–50, 1950, 1952, 1954 and 1955 seasons and also won the 1959 edition of the Mitropa Cup, which is now seen as an indirect predecessor to the European Cup and UEFA Champions League.

In total, Honvéd have won the Hungarian League title 13 times. They enjoyed a second golden era, spanning the 1980s and early 1990s, with championships coming in 1980, 1984, 1985, 1986, 1988, 1989, 1991 and 1993. The team have lifted the Hungarian Cup seven times and have completed a league and cup double twice, in 1985 and 1989. They have represented Hungary in a number of continental tournaments, including the European Cup, the UEFA Cup and the European Cup Winners' Cup.

Legendary striker, Ferenc Puskás, is by far the club's best-known former player. He formed part of the 1950s golden era at Honvéd, along with players like Zoltán Czibor, Sándor Kocsis and József Bozsik. In more recent times, notable footballers to wear the Honvéd jersey have included Lajos Détári and Kálmán Kovács.

The team play their home matches at Bozsik Stadion, which first opened in 1913. The venue has undergone reconstructions and renovations several times over the decades and is currently able to hold a maximum of 10,000 spectators.